Safe Wallets

How to Use the Safe Wallets Plugin

Safe Wallets empowers you to create and manage Gnosis-safe wallets within your OtoCo entity. These secure and multi-signature wallets provide enhanced control and protection for your entity's crypto assets.

Option 1: Create a New Safe Wallet

  1. Access the Plugin: After connecting your wallet, navigate to the OtoCo dashboard. From the left menu bar, select "Plugins," then click on "Add" to open the Safe Wallets plugin.

  2. Add Owners: In the plugin interface, enter the Ethereum addresses of additional owners who will have access to the wallet. Your connected wallet will be automatically included as an owner and cannot be removed.

  3. Set Confirmation Threshold: Define the number of owners required to sign and confirm transactions from the safe wallet. This threshold can be adjusted later as needed.

  4. Create Wallet: Enter the owner addresses and set the confirmation threshold. Click on "Create Wallet" to initiate the deployment of the safe wallet. Confirm the transaction in your connected wallet (e.g., MetaMask) and pay the necessary gas fee.

  5. Wallet Deployment: Once confirmed, your new safe wallet will be deployed on the blockchain. All added owners will have access to the wallet, and transactions will require the specified confirmation threshold.

Option 2: Link an Existing Safe Wallet

  1. Access the Plugin: Navigate to the "Plugins" section within your entity. Click on "Add" to open the Safe Wallets plugin.

  2. Link Existing Wallet: Choose the "Link Existing Wallet" option. Input the Ethereum address of the Gnosis-safe wallet you want to link to your entity.

  3. Attach Wallet: Click on "Attach Wallet" to confirm the linking process. Confirm the transaction in your connected wallet.

When to Use

Multi-Signature Security: Create Gnosis-safe wallets when multiple members are involved in an entity. The requirement for multiple owners to confirm transactions adds an extra layer of security and accountability.

Enhanced Control: Using a Gnosis-safe wallet provides greater control over your entity's crypto assets, as transactions require the approval of multiple authorized individuals.

Team Collaboration: Safeguard the management of your entity's assets by using a multi-signature wallet, ensuring that important decisions and financial transactions are validated by multiple parties.

Safer Asset Management: Employing a Gnosis-safe wallet reduces the risk of unauthorized access or unilateral decisions, fostering collaborative asset management among stakeholders.

The Safe Wallets plugin enhances the security and transparency of your entity's crypto assets, allowing you to leverage multi-signature wallets for confident and collaborative management.